# Alameda County Employees' Retirement Association

Alameda County Employees' Retirement Association is a Pension Fund based in Oakland, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Oakland, United States
- **Region:** North America
- **Address:** 475 14th Street, Suite 1000, Oakland, CA 94612, United States
- **Founded:** 1948
- **Assets under management:** 12243 (Altss estimate)
- **Website:** acera.org
- **LinkedIn:** https://www.linkedin.com/company/alameda-county-employees'-retirement-association

## Regulatory record

- **Reports private funds:** No

## About

The Alameda County Employees' Retirement Association was founded in 1948 to administer pension, disability, and death benefits. Dave Nelsen holds the chief executive role while Betty Tse serves as chief investment officer. The board includes Chair Kellie Simon and First Vice-Chair Tarrell Gamble. Allocations include a 9.36 percent target to private equity with commitments to Quantum Energy Partners VIII, Great Hill Equity Partners IX, and Clayton, Dubilier & Rice Fund XII. Real estate exposure covers direct ownership of the Oakland headquarters building plus mandates with PGIM U.S. Real Estate Debt Fund, Heitman Value Partners VI, Starwood Distressed Opportunities Fund XIII, and Artemis Real Estate Partners. Natural resources and infrastructure sit at 6.1 percent of total assets with global reach. Absolute return strategies total $1.05 billion. Geographic coverage spans the United States and select international markets. The association employs 52 professionals at its Oakland headquarters. Service providers include NEPC as general investment consultant, Callan Associates for real estate, State Street Bank as custodian, and The Segal Group as actuary. In May 2025 the firm spoke at the SACRS Spring Conference on legislative updates and retirement system administration. Governance rests with an elected and appointed board that sets policy separate from county operations. Investment decisions flow through the CIO with board approval on major commitments and consultant input from NEPC.

## Sectors

- Private Equity
- Real Estate
- Infrastructure
- Natural Resources

## People

- Dave Nelsen — Chief Executive Officer
- Betty Tse — Chief Investment Officer
- Kellie Simon — Chair of the Board of Retirement
- Tarrell Gamble — First Vice-Chair of the Board of Retirement

## Questions

### Who runs investment decisions at Alameda County Employees' Retirement Association?

Betty Tse serves as Chief Investment Officer. The board of retirement, chaired by Kellie Simon, approves major policy and commitments.

### Does Alameda County Employees' Retirement Association participate in fund commitments or only direct deals?

The association commits to private equity funds, real estate funds, and credit vehicles. Holdings include Quantum Energy Partners VIII and Great Hill Equity Partners IX.

### What asset classes receive the largest allocations?

Public equities form the largest portion with roughly 80 percent indexed through BlackRock. Private equity targets 11 percent. Real assets and absolute return strategies follow.

### Where does Alameda County Employees' Retirement Association maintain its headquarters?

The association owns and occupies a commercial office building at 475 14th Street in Oakland, California.

### Which industry associations does Alameda County Employees' Retirement Association belong to?

The firm participates in SACRS, CALAPRS, and GFOA. It received Excellence in Financial Reporting awards from GFOA.

### How is the board structured at Alameda County Employees' Retirement Association?

The board includes elected employee representatives and appointed members. Kellie Simon serves as chair and Tarrell Gamble as first vice-chair.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/alameda-county-employees-retirement-association

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